According to a new market research report ”AI in Social Media Market by Technology(Deep Learning & Machine Learning, and NLP), Application (Sales &Marketing, Customer Experience Management, and Predictive Risk Assessment),Component, Enterprise Size, End-User, and Region - Global Forecast to 2023",published by MarketsandMarkets™, the global AI in social media market to growfrom 633.1 million in 2018 to USD 2,197.1 million by 2023, at a Compound AnnualGrowth Rate (CAGR) of 28.3% during the forecast period.
The increasing adoption of the AI technology for variousapplications in the social media sector and utilization of AI-enabledsmartphones are expected to drive the growth of the AI in social media market.
Browse 83 market data Tables and58 Figures spread through 179 Pages and in-depth TOC on "AI in Social Media Market byTechnology (Deep Learning & Machine Learning, and NLP), Application (Sales& Marketing, Customer Experience Management, and Predictive RiskAssessment), Component, Enterprise Size, End-User, and Region - Global Forecastto 2023"
Major Key Companies:
The major AI in social media vendors include Google (US),Facebook (US), AWS (US), IBM (US), Adobe Systems (US), Baidu (China),Salesforce (US), Twitter (US), Snap (US), Clarabridge (US), Converseon (US),Sprinklr (US), Unmetric (US), ISentium (US), Cluep (US), Netbase (US),Spredfast (US), Synthesio (US), Crimson Heaxagon (US), Hootsuite (CANADA),Sprout Social (US), Vidora (US), Meltwater (US), and Talkwalker (Luxembourg).
North America is expected to be the major revenue contributorto the AI in social media market. This region is said to be the first region toexperience the benefits of AI in social media technologies. The North Americanregion also houses the major market players, and is open to technology-relatedinnovations. Asia Pacific (APAC) is expected to witness the fastest growth ratein the AI in social media market during the forecast period, due to an increasein the number of internet and smartphone users in the APAC region. The emergingAPAC economies, such as China and India, have several untapped and unexploredopportunities for social media enterprises in the AI in social media market.
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On the basis of services, the AI in social media market isbroadly classified into support and maintenance, system integration, andtraining. Among these, the support and services segment is expected to grow atthe highest CAGR during the forecast period, as these services offer end-to-endeffective implementation, starting from requirement gathering to user training.
Among components, the solutions segment is divided intosoftware tools and platforms. Among these, the software tools segment isexpected to grow at a higher CAGR during the forecast period. This high growthis attributed to the fact that these software tools are used to develop anddeploy AI-enabled solutions in the social media sector.
Based on enterprise size, the AI in social media market issegmented into Small and Medium-sized Enterprises (SMEs) and large enterprises.The SMEs segment is expected to have the larger market size and grow at ahigher CAGR during the forecast period. The adoption of AI in social mediasolutions by SMEs in the APAC region is expected to increase at a rapid pace.The increasing demand for the integration of the AI technology in the socialmedia sector is expected to have accelerated the growth of the SMEs.
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